SevenOneSeven Capital Management Reduces Holdings in KLA Co. (NASDAQ:KLAC)

SevenOneSeven Capital Management trimmed its stake in KLA Co. (NASDAQ:KLAC) by 27.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 928 shares of the semiconductor company’s stock after selling 350 shares during the period. SevenOneSeven Capital Management’s holdings in KLA were worth $301,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of KLAC. Stonebridge Capital Advisors LLC purchased a new stake in shares of KLA in the 1st quarter worth about $33,000. Prestige Wealth Management Group LLC lifted its position in shares of KLA by 1,022.2% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 101 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 92 shares during the period. Arkadios Wealth Advisors lifted its position in shares of KLA by 175.6% in the 2nd quarter. Arkadios Wealth Advisors now owns 113 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 72 shares during the period. MV Capital Management Inc. lifted its position in shares of KLA by 1,916.7% in the 2nd quarter. MV Capital Management Inc. now owns 121 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 115 shares during the period. Finally, Selective Wealth Management Inc. purchased a new stake in shares of KLA in the 2nd quarter worth about $65,000. 85.70% of the stock is owned by hedge funds and other institutional investors.

KLAC has been the subject of a number of recent research reports. Bank of America lifted their price target on shares of KLA from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, September 17th. Susquehanna raised shares of KLA from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $380.00 to $475.00 in a report on Tuesday, September 14th. Morgan Stanley lifted their target price on shares of KLA from $364.00 to $389.00 and gave the stock an “equal weight” rating in a report on Friday, July 30th. UBS Group lifted their price target on shares of KLA from $345.00 to $350.00 and gave the stock a “neutral” rating in a research note on Friday, July 30th. Finally, Susquehanna Bancshares upgraded shares of KLA from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $380.00 to $475.00 in a research note on Tuesday, September 14th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $377.11.

In related news, EVP Brian Lorig sold 875 shares of the stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $348.16, for a total value of $304,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Bren D. Higgins sold 6,617 shares of the stock in a transaction that occurred on Thursday, September 9th. The stock was sold at an average price of $335.92, for a total transaction of $2,222,782.64. Following the completion of the transaction, the chief financial officer now owns 6,827 shares in the company, valued at approximately $2,293,325.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,174 shares of company stock worth $5,950,888. 0.16% of the stock is owned by company insiders.

KLAC stock traded up $8.00 during mid-day trading on Thursday, reaching $328.41. 11,799 shares of the stock traded hands, compared to its average volume of 1,171,984. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.96 and a current ratio of 2.71. KLA Co. has a one year low of $190.21 and a one year high of $374.60. The stock has a market capitalization of $49.92 billion, a PE ratio of 24.73, a PEG ratio of 1.30 and a beta of 1.21. The business has a 50-day moving average price of $341.23 and a two-hundred day moving average price of $327.13.

KLA (NASDAQ:KLAC) last posted its quarterly earnings results on Wednesday, July 28th. The semiconductor company reported $4.43 EPS for the quarter, topping the Zacks’ consensus estimate of $3.99 by $0.44. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.87 billion. KLA had a net margin of 30.04% and a return on equity of 74.13%. On average, equities analysts expect that KLA Co. will post 19.3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Monday, August 16th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 1.28%. This is a boost from KLA’s previous quarterly dividend of $0.90. The ex-dividend date was Friday, August 13th. KLA’s dividend payout ratio is presently 28.87%.

KLA announced that its Board of Directors has approved a share repurchase program on Thursday, July 29th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

KLA Company Profile

KLA Corp. engages in the supply of process control and yield management solutions for the semiconductor and related nano-electronics industries. The company operates through the following segments; Semiconductor Process Control, Specialty Semiconductor Process, PCB, Display & Component Inspection and Other.

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Institutional Ownership by Quarter for KLA (NASDAQ:KLAC)

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